Oil rises 2 percent to $ 34

Friday, January 8, 2016

Oil "Brent" prices rose in Asian trade Friday, 2%, bringing the price to $ 34 Brmelh, after scoring on Thursday, its lowest level in 11 years, his arrival to $ 33.05.
This increase came in the wake of the rise of Chinese stocks after Beijing halted the activation mechanism for the suspension of trading, and has been blamed for exacerbating stock market losses, but they made it clear that the continuation of the abundance of global crude supply restricted the gains. And it stepped up the global Brent crude benchmark contracts [today] to the nearest maturity of 2.30 percent to $ 34.72 a barrel elevated more than two dollars from the lowest level since 2004, which plunged him in Thursday's session. And Brent crude rose US contracts for West Texas Intermediate 2.16 percent to $ 33.99 a barrel after having fallen in the previous session to $ 32.10, the lowest level since late 2003.